What should be done with hand receipts when a property item is lost?

When a property item is lost, it is essential to update the hand receipts to reflect the loss accurately. This process ensures that all records concerning the property are precise and accountable. By updating the hand receipts, accountability is maintained, and proper documentation of the loss is created. Additionally, reporting the loss as required aligns with the protocols for managing and tracking government property, ensuring compliance with established policies.

Maintaining accurate records not only helps in identifying any discrepancies but also assists in the audit process, and facilitates the necessary steps to take, such as reconciliation or potential replacement of the lost item. This comprehensive approach contributes to effective asset management and promotes transparency within the operations of property management.